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Political Economy of Demand

According to the financial times flaring in the us ad

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Unformatted text preview: you out. o Hard to deal with – public goods. Can’t keep you out or force you to pay and not rivalrous o Public good that tries to pretend to be club good = NPR o Common pool resource – how do you punish the bad actors o Policies will be different. Private good: land, oil Club good: Free trade summaries Common pool resource: fisheries/ public land Public good: swing capacity / nat’l security/npr/ water? • Pricing Externalities: o Should a govt price negative externalities? o How do you price negative externalities? All of these are non- market things? What do we care about more? Keystone XL – keystone (not xl) already exists, operating at below 50% capacity – turns oil sands are incredibly caustic, keeps melting through pipeline. What about this externality? Trying to figure out what we want here. 3yrs ago, sounded a lot better. Someone in America who wants to use right of way. This is the business of policy, lot of externalities. Taking things that the market on its own cannot price. No way to price the gain and security of a pipeline between...
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